Răzvan Rusu, the investment director of Certinvest, considers that the price of gold will not go above 1,900 dollars/ounce. In his opinion, the gold market is in a bubble, as investors have run away from the financial markets, which means the current price of gold is higher than its fair value. read more...

Răzvan Furtună, the head of the Treasury Products Sales to Retail Customers of BCR, part of the Financial Markets Division of the Romanian Commercial Bank (BCR), considers that the price of gold will continue to rise, as portfolio investments in gold are becoming attractive. read more...

The National Bank of Romania (BNR) will contribute with other 781.2 million special drawing rights (SDRs) in increasing the social capital of the International Monetary Fund (IMF), as the Government approved. read more...

Rumors concerning the replacement of Dominic Bruynseels as the CEO of BCR has been going around at an increasing rate. Banking sources say that "the short list" of potential executives of BCR would also include Sebastian Vlădescu, former finance minister, as well as the vice-president of an Austrian bank of Romania. Sebastian Vlădescu said he doesn't want the position of CEO of BCR. read more...

The number of family support allowance beneficiaries was reduced by over 450,000 this year and that of beneficiaries of minimum guaranteed income was reduced by 44,241, Romanian Labor Minister Sulfina Barbu said Friday. read more...

Minister of Public Finance Gheorghe Ialomitianu and vice-president of the European Investment Bank (EIB) Wilhelm Molterer on Friday signed two financing contracts, whose total value amounts to 497.65 million euros. read more...

Romania's joining of the fiscal pact, concluded by the European leaders at the summit which was held in Brussels at the end of last week, will have a favorable effect on the economy, and will result in more disciplined macroeconomic policies, Valentin Lazea, chief-economist at the Romanian National Bank (NBR) said on Friday, at the EU-COFILE seminar, hosted in Sinaia by the NBR, the Romanian Banking Association and Alpha Bank. read more...

Romania is currently consolidating its exit from recession, Adrian Vasilescu, advisor to the governor of the Romanian National Bank (NBR) said at the EU-COFILE seminar held yesterday, hosted in Sinaia by the NBR, the Romanian Banking Association (ARB) and Alpha Bank. He added that, in this context, the process of lending needs " a new beginning". read more...

Switching to the International Financial Reporting Standards (IFRS), in 2012, will not result in unhealthy lending, but the Romanian National Bank (BNR) has established prudential filters that would prevent the artificial increase of banks' solvency ratios, Florin Georgescu, prime deputy-governor of the NBR said yesterday, at the EU-COFILE seminar hosted in Sinaia by the NBR, the Romanian Banking Association and Alpha Bank. read more...

he Euro yesterday depreciated on the international market, after Standard & Poor's warned it might downgrade 15 words in the Eurozone, as well as the rating of bonds of the European Financial Stability Fund (EFSF). Moritz Kraemer, head of the sovereign rating division of S&P in New York, said that the rating of EFSF was put on watch with a negative outlook. read more...

A number of five banks yesterday attracted 2.38 billion lei yesterday (546 million Euros) from the National Bank of Romania (NBR), with a maturity of one week, at the policy rate of 6% p. a.. The liquidity injection was made through a repo operation, through which the NBR provides liquidity to the banks and receives government bonds in exchange. read more...

The worsening of the sovereign debt crisis in the Eurozone could result in increasing investors' aversion to all markets, including emerging ones, Cristian Popa, the deputy governor of the National Bank of Romania, at a seminar concerning inflation. He explained that the effect would carry over to the risk premiums (CDS-Credit Default Swaps) which may rise and also, there will be pressure on the exchange rate. read more...

German Chancellor Angela Merkel said on Thursday that Romania is working a lot for its tax and budget consolidation, adding that this is going to have a positive effect on the long run, and voicing her gratitude to President Traian Basescu for his political performance in this respect. read more...

Romania's Chamber of Deputies on Tuesday adopted Government Emergency Ordinance 80/2010, which includes amendments by the Committee for budget, that stipulate public sector salaries and state pensions will be frozen next year. read more...

MPs with the Romania Chamber of Deputies’ committee for labor have until November 14 to draw up a report on the social welfare bill, that will then be put to the vote in plenary, House secretary Niculae Mircovici said Tuesday. read more...

Romania's Government has agreed with the IMF and EC to freeze public sector salaries and pensions, but to increase them slightly halfway through next year, if budget revenue allows, said IMF mission chief Jeffrey Franks. read more...

Romanian President Traian Basescu said Thursday, after a meeting with the IMF, World Bank and European Commission delegation, that next year's budget will be built on a deficit of 1.9% of the GDP in cash terms, which can be increased up to 2.5% later in the year. read more...

The companies under the Romanian Economy Ministry's authority and monitored by the IMF have reduced their arrears, cut their personnel expenses by 4.5% and posted 50% lower losses in the first nine months of the year. read more...

The International Monetary Fund Thursday completed the second review of Romania’s economic performance under a EUR3.5 billion precautionary loan agreement, enabling the disbursement of a new EUR480 million tranche. read more...